CTY
As if carrying Homeowners insurance in California and Florida wasn’t already subject to ridiculous increases in premiums, things are about to get a lot worse.
Effective with the July 1st notification, Reinsurance rates, these are companies who insure the insurance companies, are telling their clients there will be up to a 50% increase in cost for underwriting catastrophic coverage. Perhaps claims in the past few years have been higher; however, I suspect the issue amid the reinsurers is partly connected to the issue that surrounds banks and bond rates.
Aside from the disaster prone part of it, I’m one of the few people who even has homeowners insurance in the 4 counties.
And there has been a curious spate of arson in the 3 counties in the last rolling year. Jennifer and I counted 12 “unexplained” house fires amongst Douglas, Webster, and Christian counties. Some homes were abandoned, some were not. I hope the police and insurance companies are paying attention.
Some of these people, I’m sure, are burning down their hovels for the payout… you know, the kind of morons who have 13 pets and ALL the pets just happened to be in the van to go to Freddy’s for some fries and custard.
“50% increase in cost for underwriting catastrophic coverage”
How to reclaim prime real estate.
Just the rich gettin’ richer.
We changed companies to get a 45% increase the one we had had a 100% increase.
We have agents, insurers and reinsurers.
What would my rate be if we removed two of those three?
Why in hell do I have to subsidize some idiot’s McMansion rebuild that was washed away because they built it below sea level in New Orleans?
There is no more socialistic construct than insurance.
Share the wealth.
Share the risk.
No difference.